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Rosneft and the Federal Forestry Agency agreed on cooperation in the implementation of forest and climate projects

17 June 2022

Rosneft and the Federal Forestry Agency (Rosleskhoz) signed a long-term cooperation agreement at the XXV St. Petersburg International Economic Forum.

As part of this cooperation, the parties intend to carry out joint actions for conserving and reproducing forests as well as study opportunities for increasing the absorptive capacity of forests through the introduction of innovative technologies.

The agreement also provides for joint efforts to develop the regulatory framework concerning the methodology for assessing the absorptive capacity of forests and to promote investment in forest and climate projects in Russia.

Another important area of work of Rosneft and Rosleskhoz will be to popularize and disseminate knowledge about forest conservation opportunities, support educational and research programs, and train personnel.

Rosneft was the first in the Russian oil and gas industry to set a goal of achieving carbon neutrality and to incorporate it into its Rosneft-2030 Strategy. The company traditionally pays special attention to reforestation. In 2021, Rosneft planted about 9.3 million tree saplings.

Cooperation with Rosleskhoz will allow creating favorable conditions for the implementation of forest and climate projects in accordance with international and Russian standards as well as Company's carbon management goals.

For reference:

Rosneft shares and actively supports international and national climate change goals. The Company relies on scientific developments and modern technological solutions to reduce greenhouse gas emissions.

In December 2021 Rosneft presented its new Strategy “Rosneft-2030: reliable energy and global energy transition” and became the first company in the Russian oil and gas industry to set a strategic goal of achieving carbon neutrality by 2050 (Scopes 1 and 2). This goal will be achieved through measures to reduce emissions, expand the use of low-carbon energy sources, energy-saving technologies, carbon capture and storage technologies, and natural carbon sequestration.

Information and Advertising Department
17 June 2022

These materials contain statements about future events and expectations that are forward-looking in nature. Any statement in these materials that is not a statement of historical fact is a forward-looking statement that involves known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements expressed or implied by such forward-looking statements to differ. We assume no obligations to update the forward-looking statements contained herein to reflect actual results, changes in assumptions or changes in factors affecting these statements.

Keywords: Environmental news 2022